swift

Swifts stock has been down graded to Hold and the Teamsters , who own a majority stake in Swift class A voting shares , have asked the board of directors for the second year in a row to value their stock as much as Jerry Moyes minority holding , so they have more input as to how to fix their rep and driver hemorrhage . Combined with the short miles lawsuit finally moving forward , I really think they are changing their tune . Prime was awful about ten years ago , lease payments and charge backs , unpaid layover etx . As bad as England , and now they're the shining star of lease purchase , and profitable .

 

This is the raise from Aug of last year, There has been another since then. And the OP says that they do not. pay

 

Pride is a good company , started by a son of Dan England . Originally called the Pride of England until his dad , who is an attorney , sued

 

If your going to state FACTS at least get them correct Jeff started with 3 trucks leased to C R ENGLAND in the mid 70's and called his outfit PRIDE OF ENGLAND

Taking advantage of an investment tax credit that was in effect at the time, Jeff got a handful of investors to help him buy seven more trucks by the end of 1978. Jeff ran those ten trucks for a couple of years, still under “The Pride of England” name and still hauling mostly for England. When customers began getting confused, Jeff decided to shorten the name to just Pride and began seeking out his own customers and loads. Eventually, one by one, he pulled those ten trucks from England until they were completely independent from his dad’s company, hauling Pride’s customer’s freight exclusively.

 

Thank you for your research

 

I make a lot more than that now my friend. Plus I'm home every night and off weekends. Paid by the hour and only run less than 1000 miles a week.

 

Teamsters own Swift? I don't think so. May be their is some teamster interest in the the stock but that would have to be a very recent development; some 5 years ago Swift was a private company with Jerry and family as the only owners.

Teamsters main interest in Swift is Jerry Moyes anti-union attitude. Jerry has stopped union votes by buying up companies. If one mega-crap company such as Swift went union, Teamsters membership would double.

As such the Teamsters keep a good eye on Jerry and Swift and I have no idea why Teamsters would invest in Swift when they are the main whistle blowers against Jerry. A year ago, the Teamster's warned that Jerry leveraged a loan against the remaining stock shares he owns is Swift. That is most likely the reason the stock value has changed in Swift. Jerry, has little actual money invested in Swift yet still retains control over Swift. No value for the other share holders, and the company is run by someone who got pinched for insider trading once before.

 

(PHOENIX) – A Teamster shareholder proposal to address Swift Transportation’s dual class stock structure received 79.2 percent support by shareholders of the company’s Class A, publicly traded shares, based on results disclosed by the company in its 8-K dated May 13, 2014 and filed with the Securities & Exchange Commission (SEC).

 

All the relevants are at teamster.org

 

I read that but I am missing where the shareholders are majority Teamsters. It appears Teamsters have a minority holding in a publicly traded company and they have convinced 79.2 percent of the other minor shareholders that Jerry's voting power is unbalanced and unethical. Jerry is still the majority shareholder in Swift. It appears the Teamsters are complaining about Swift and Jerry Moyes and how Jerry makes all the calls at Swift when at this point, Jerry has little to no money invested.

Hey I could be wrong, I think they are just calling him out on yet another dirty deal.